This CEO Earned almost $100 Million in four Months, Surpassing Tim cook & Sundar Pichai's Annual Pay
at the same time as Tim cook dinner and Sundar Pichai, the CEOs of apple and Google, respectively, each earned kind of $seventy five million in 2024, Starbucks new CEO Brian Niccol has taken the highlight with a far greater giant pay package deal.
Niccol's repayment for just four months of labor neared an extremely good $100 million in 2024, positioning him many of the maximum-paid executives inside the US.
according to a Bloomberg record, Niccol earned a extraordinary $96 million for just 4 months of labor in 2024.
Breakdown of Brian Niccol's revenue
The report notes that about 94 in keeping with cent of Niccol's repayment came from stock awards, typically tied to overall performance and vesting over a 3-yr length. additionally, Niccol obtained a $5 million sign-on bonus after his first month with Starbucks in september 2024.
A organization submitting from january 24 reveals in addition details of Niccol's salary, which includes more than $143,000 allocated for housing expenses - nearly half of of which turned into committed to tax bills. another $72,000 was spent on travel among his Southern california domestic and Starbucks' headquarters in Seattle. additionally, round $19,000 protected personal fees associated with the usage of organization plane.
Niccol amongst the united states's maximum-Paid CEOs
As in keeping with the Bloomberg Pay Index, Brian Niccol ranks among the top 20 maximum-paid CEOs within the u.s.. The record estimates his total compensation package to be really worth around $113 million yearly, factoring inside the stock awards he received to update those he forfeited from his previous agency, Chipotle.
Why Starbucks selected Brian Niccol
Niccol's appointment as CEO got here after the ousting of Laxman Narasimhan, whose tenure ended amid declining sales and demanding situations, together with worldwide boycott calls and union actions within the U.S. Niccol, previously the CEO of Chipotle, became selected for his leadership experience and music file of turning organizations around. To ease his transition, Starbucks made inns, permitting him to paintings remotely and imparting housing help in addition to get entry to to a agency jet.
in their submitting, Starbucks highlighted Niccol as a "fairly sought-after, effective chief with a proven song document" who became well-geared up to drive increase for the coffee chain.